DC Metro Area First-Time Homebuyer Report for June

The DC Metro Area has one of the most prosperous populations in USA with a median income of $83,140 per household. On top of being ranked the wealthiest metro area, its population is older than others with a median age of 36 years. Fairfax County, Montgomery County, and Prince George's County are the three largest counties in terms of population. The DC Metro Area market mostly consists of detached houses, accounting for 66% of the current homes in the area. The top schools in the metro area are Takoma Park Elementary School, Washington Latin Pcs, and School Without Walls Sr High School.


If you're into the outdoors, great attractions in DC Metro Area include Great Falls Park and Burke Lake Park, according to Foursquare. If you like arts and entertainment, some popular spots are Steven F Udvar-Hazy Center and AMC Tysons Corner 16. You could also try out the popular Coastal Flats, Sweetwater Tavern, and Ozzie's Good Eats if you dine out.

Price Range

The median value of homes in the DC Metro Area is $329,100, making it one of the most valuable areas in USA. At the same time, the average list price of available homes is presently $425,375. The homes with the highest value are in Falls Church City, Arlington County, and Fairfax County. The DC Metro Area market slowed with a 5.9% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (6,312.1) with 7,853 homes sold.

Out of all the listings in the DC Metro Area, these have been viewed the most. So be sure to see what all the fuss is about with these fabulous homes.

$1.8M   $9M   $239K  

Typical Dwelling

A four-bedroom detached home valued around $519,884 is considered a typical dwelling in the DC Metro Area. If a buyer was looking for a similar home, they would need good credit and a $103,977 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,926 and the property tax rate is $11.04 per $1,000 of taxable assessed value.

Get started right now by checking out DC Metro Area homes for sale or reviewing DC Metro Area real estate trends.

Data reported through 6/30/2016


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Keller Williams Realty
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Long & Foster Real Estate, Inc.
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